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Lenders One Introduces Bundled Service Product To Members

Stocks in this article: ASPS

Lenders One Mortgage Cooperative, a national alliance of community mortgage bankers, correspondent lenders and suppliers of mortgage products and services, has introduced its first Origination Services Bundle product to its members. The new Origination Services Bundle is specifically designed to facilitate more efficient retail loan production.

Working with select partners and Altisource, the initial Origination Services Bundle will include appraisal, flood certification, fraud report and Internal Revenue Service 4506T services provided at a discount compared to ordering them individually. The bundled services will be delivered via a custom portal powered by REALTrans®, Altisource’s patented order management platform. The portal enables seamless, single-source ordering, tracking, messaging and fulfillment, which helps simplify the complex process of originating a residential home loan.

“Lenders One strives to deliver products and services that improve our members’ performance,” said Jeff McGuiness, CEO of Lenders One. “By leveraging Lenders One’s buying power, as well as the patented technology and scope of Altisource services, we are in a unique position to deliver meaningful product cost savings and loan processing efficiencies for our members.”

“The bundle includes services that we were already ordering; however, through the bundle we were able to save money,” said Greg Grojean, Lenders One member and group senior vice president of Home State Bank, N.A. located outside of Chicago. “We started using the bundle because we realized we could pass on the cost savings we received to our borrowers. This gives us a competitive edge in the marketplace as consumers are looking to work with lenders that are willing to go the extra mile for them.”

About Lenders One Mortgage Cooperative

Lenders One ( www.LendersOne.com) was established in 2000 as a national alliance of independent mortgage bankers, correspondent lenders and suppliers of mortgage products and services. Members of the St. Louis-based platform originated more than $106 billion in mortgages in 2011, collectively ranking as one of the largest retail mortgage origination entities in the U.S. Lenders One, now more than 230 lender members strong, is managed by a subsidiary of Altisource Portfolio Solutions, S.A.

About Altisource™

Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) is a global provider of services focused on high-value, technology-enabled, knowledge-based solutions principally related to real estate and mortgage portfolio management, asset recovery and customer relationship management. Additional information is available at www.altisource.com.

Copyright Business Wire 2010

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